Southwest Housing Market Report March 2025•Santa Fe County, New Mexico

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Housing Prices in Southwest, NM

How much do homes in Southwest, NM cost?

Housing Market Conditions

Is Southwest, NM a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Southwest is a Seller's Market

Difference Since March 2024

Since last year, Southwest has remained a Seller's Market.

Insight

Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$460,000$315/SqFt
-$8,500
-1.8%

Based on all homes sold in the last 12 months

Insight

Homes in Southwest have sold for 1.8% less than they did a year ago.

Summary: The median home sold price in Southwest was $460,000 in March 2025, down 1.8% from last year, and the median price per square foot was $315.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMar 2024Mar 2025Change YoY
1$210K$218K
+3.8%
2$374K$382.5K
+2.3%
3$488K$495K
+1.4%
4$545K$544K
-0.2%
5$578.5K$685K
+18.4%

Summary: Southwest housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes increased by +3.8%. The home price for 2 bedroom homes increased by +2.3%. The home price for 3 bedroom homes increased by +1.4%. The home price for 4 bedroom homes decreased by -0.2%. The home price for 5 bedroom homes increased by +18.4%.

How does Southwest, NM compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Southwest, NM

Housing supply in Southwest, NM

How many homes are available in Southwest, NM?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
129Last MonthMar 2025
1212 months agoFeb 2025
+6.6 %
Change MoMFeb – Mar

Summary: The Southwest real estate market had 129 homes for sale in Mar 2025, a 6.6 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
37Last MonthMar 2025
252 months agoFeb 2025
+48.0 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
1108
-20.0%
22733
+22.2%
37275
+4.2%
41213
+8.3%
500
0.0%

Summary: Southwest housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -20.0%. The inventory for 2 bedroom homes increased by +22.2%. The inventory for 3 bedroom homes increased by +4.2%. The inventory for 4 bedroom homes increased by +8.3%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Southwest, NM cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price5 Homes

At Asking Price4 Homes

Under Asking Price28 Homes

Insight

If you're buying a home in Southwest, you may be able to get a good deal. 75.7% of homes here sold below asking price last month.

Summary: A total of 37 homes were sold or pending in Southwest in March 2025, up by 48.0% month-over-month. Of the 37 sold homes, 76% were sold under asking, 11% were sold at asking, and and 14% were sold over asking.

Days on Market for Southwest, NM

How long does it take to sell a home in Southwest, NM?

Breakdown of Home Sale Times

Under 30 Days26 Homes

30 – 90 Days7 Homes

Over 90 Days4 Homes

Insight

Many homes in Southwest are selling fast, if you're buying plan to act quickly.

Summary: During March 2025, 37 homes were sold in Southwest; 70% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
36 DaysThis YearMar 2025
34 Days1 year agoMar 2024
+5.1 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in Southwest had an average listing age of 36 days in Mar 2025, up by 5.1% compared to the previous year.

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Newest Listings in Southwest, NM

What homes are available in Southwest, NM?

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Nearby markets

Nearby markets aren't available for Southwest, NM

Popular Cities with Homes for Sale in New Mexico

MLS Disclaimers and Copyright

Based on information from Santa Fe MLS, and Southwest Multiple Listing Service for the period 04/01/2023 - 04/01/2025

IDXThe data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of Santa Fe Association of REALTORS® MLS, Inc. Real estate listings held by brokers other than this broker are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
Copyright © 2025 Santa Fe Association of REALTORS® All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/26/2025, 3:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXThe data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed.

Copyright © 2025 Southwest Multiple Listing Service. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/26/2025, 3:20:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.